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Give two reasons for incomplete records in accounting records

Answers

a)Managers or owners may not have the skills or expertise in preparing and maintaining an accounting system (records and procedures).
b)It may not be economical for the business to maintain accounting records due to the volume or/and nature of transactions (small scale businesses)
c)Records are destroyed (e.g. through fire), stolen or misplaced.

Titany answered the question on December 14, 2021 at 09:16

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